Kansai Airports: FY2023 Half-year Consolidated Financial Results Revenues and profits increased due to recovery in international traffic following the completion of border measures. Turning profitable for the first time in four terms

2023-12-06

Kansai Airports today announced its half-year consolidated financial results for the 6 months ended September 30, 2023, posting operating revenues of 85.4 billion yen, operating profit of 13.0 billion yen, ordinary profit of 7.8 billion yen and net profit of 5.2 billion yen.

During the current interim period, air passenger demand steadily recovered due to the completion of border measures. Operating revenue increased by 107% and operating profit increased by 25.1 billion yen, ordinary profit by 25.2 billion yen, and net profit by 17.9 billion yen compared to the previous year. Turning a profit for the first time in four terms as interim period.

Aviation Traffic
Aviation traffic increased significantly, the total aircraft movements at the three airports was 167 thousand, and the number of air passengers was 20.98 million; an increase of 27% and 96%, respectively, compared to the previous year. Regarding international traffic, the end of the government's border measures has led to the return and increase of flights, and the number of international passenger has recovered, with the number of international passengers increasing significantly by 14 times compared to the previous year. Domestic flights are also recovering steadily, with the combined aircraft movements from the three airports reaching a record high for the first half of the year. Although the number of international cargo flights was lower than the previous year, it still maintained a high level, 160% compared to 2019.

Consolidated Balance Sheet
As of September 30 2023, total assets were 1,594.2 billion yen as a result of depreciation in operating rights compared to the end of the previous fiscal year. In addition, due to repayment of short-term loan, total liabilities were 1,561.4 billion yen.